MORRIS PLAINS, N.J., May 7, 2014 (GLOBE NEWSWIRE) -- Immunomedics, Inc., (Nasdaq:IMMU) today announced that it has closed its recently announced underwritten public offering of nine million shares of its common stock. The gross proceeds from this offering to Immunomedics are expected to be $30.15 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Immunomedics. Immunomedics has granted the underwriters a 30-day option to purchase up to an additional 1.35 million shares of common stock. All of the shares sold in the offering were sold by Immunomedics, with the proceeds to fund the Company's Phase III clinical trial for patients with advanced pancreatic cancer and its ongoing Phase II expansion trials for IMMU-132 and IMMU-130, as well as for working capital and general corporate purposes.
Immunomedics Closes $30 Million Public Offering Of Common Stock
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